One of the biggest questions homeowners ask before renovating is: “Where will my money actually be spent?” Here’s a simple breakdown of how a typical renovation budget is allocated:
-
Labour (30–40%) – Paying trades like builders, electricians, and plumbers usually takes the largest share.
-
Materials & Fixtures (25–35%) – Tiles, flooring, cabinetry, lighting, and fittings quickly add up.
-
Design & Permits (5–10%) – Architects, draftspersons, and council approvals are essential costs.
-
Structural Work (10–15%) – Foundations, framing, and roofing can take a solid slice of the budget.
-
Finishes (10–15%) – Paint, décor, and styling to bring everything together.
-
Contingency (10–15%) – A safety buffer for surprises like hidden damage or material delays.